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20130320
20130320
Search Results 0 to 5 of about 6 (some duplicates have been removed)
in 2011 when obama wanted to raise the debt ceiling. the amount that america can borrow to pay its bills. it's sort of like raising the credit limit on your visa to pay off your mastercard if you had used your mastercard to pay for two trillion-dollar wars. but -- listen, wait. [cheers and applause] they were worth it because now we can use all the free miles to go to the next war. [cheers and applause] but the republicans -- but the republicans would only raise the debt ceiling if the president promised later spending cuts. if those were not passed by an arbitrary date, it would trigger the sequester, a doomsday scenario designed to cripple programs that both sides love. the democrats would see damaging reductions in education, national parks, vaccination programs, food inspection, even the national zoo while republicans would see cuts to everything they hold dear like the military. [laughter] the point is -- [cheers and applause] -- if the two sides failed to come to a compromise in march 2013 would come in likeƑi a lion and go out like a lion loose from the unguarded national zoo. it
on the debt ceiling before his re-election. >> true. >> and so he forced this process to occur and insisted. >> but he didn't want the sequester cuts. >> well, no. he didn't want the cuts, but we had the sequester as a result of his demands. and i'm told my colleagues in the house that the sequester will stay in effect until there is an agreement that will include cuts and reforms that put us on a path to balance the budget over the next ten years. >> but no tax increases. >> no tax increases. the president already got $650 billion worth of tax increases january 1st. he got a trillion dollars worth of tax increases in obama care. this year the federal government will bring in more revenue than any year in our history and yet we're still going to have a trillion dollars budget deficit. spending is the problem. >> the white house says in response, yes, it's true. taxes went up more than $600 billion over ten years at the end of the year but it is also true the white house put $1.5 trillion worth of spending cuts in their budget. the truth is you're both right. i mean, they have offered spendi
going forward. we have to remember there's a lot of forward looking events like that debt ceiling issue which is going to crop up in the middle of may. how we handle that will influence the economy going forward. we have to think forward when we read through the fed. >> let me turn to neil irwin. neil, the fed chairman has been asked before and he has routinely swatted away the questions like an annoying fly about whether he would accept or is even thinking about another term at the fed. what do you think is going to happen? he's got ten months to go. >> look, it's hard to imagine that he wants another term. he's worked very hard for the last seven years and counting. he's tired. he's fought the crisis. he's dealt with the aftermath of the crisis. i think he would just as soon get a nice lucrative book contract like tim geithner did and have a little more leisurely pace. this crisis, this difficult time isn't going away anytime soon. he has a difficult ten months ahead. i think if he is asked, he will deflect once again and certainly not pledge that he would really consider it if he get
to the senate democrats not having to pass a budget in four year. under the debt ceiling in january, if the senate does not pass a budget then the senators will have their paychecks with held. it this is obviously, politically a hot potato. for him he does want, very much to have a certain amount of co-sponsors as well and they are worried about the impact of air traffic controllers by sequestration that went into ffect on march 1 the $85 billion of the across the bored spending. >> the spending for the rest of fiscal year 2013, how quickly is the house likely to take that up and pass it? >> i spoke to the house appropriation chairman and he says it is likely, unless there is last-minute changes that he does not know about the house will quickly move to bring the c.r. unchanged to the senate's floor and the house can move with lightning speed compared to the senate. so i think the flight path is clear in the house assuming there is no big changes to the senate's c.r. at this point, we have to get through -- what looks like right now to a thursday vote on the senator for the c.r. >>
Search Results 0 to 5 of about 6 (some duplicates have been removed)